The Education Department has announced $4.28 billion in relief for public service loan forgiveness, targeting teachers, nurses, service members, and law enforcement officials.
The $4.28 billion is expected to be the final round of relief before President Joe Biden leaves office in January. Under Biden, the Education Department loosened rules for Public Service Loan Forgiveness, which previously had a 99% rejection rate.
With the latest round of relief, Biden has canceled an unprecedented $180 billion in federal student loans through existing programs, covering 4.9 million Americans. However, Biden has fallen short of his goal to deliver widespread relief to millions of other Americans.